Bitcoin ETFs recorded $134 million in net outflows on March 6, marking the fourth straight day of declines. Ether ETFs also faced challenges, with net outflows totaling $36 million, reflecting ongoing negative investor sentiment in the crypto ETF market.
Bitcoin ETFs Mark Fourth Consecutive Day of Outflows, Losing $134 Million
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Crypto ETFs Remain Under Pressure With More Withdrawals for Bitcoin and Ether Funds
In a continued trend of investor caution, bitcoin ETFs experienced net outflows totaling $134.26 million on Thursday, Mar. 6, marking the fourth consecutive day of declines. Ether ETFs also faced challenges, with net outflows amounting to $35.89 million.
BlackRock’s IBIT led the downturn, shedding $50.58 million with Grayscale’s GBTC following closely with a $34.51 million outflow. Franklin’s EZBC and Ark 21Shares’ ARKB weren’t spared, losing $18.05 million and $17.76 million, respectively.
Additional outflows included $8.18 million from VanEck’s HODL and $5.12 million from Wisdomtree’s BTCW. Despite these setbacks, the total net assets for bitcoin ETFs remained robust, standing at $100.6 billion by the end of the trading day.
Ether ETFs mirrored this downward trajectory. Fidelity’s FETH saw outflows of $25.88 million, while Blackrock’s ETHA experienced a $10.01 million decline. Consequently, the total net assets for ether ETFs dipped to $7.92 billion.
The sustained outflows from both bitcoin and ether ETFs suggest a broader market sentiment of risk aversion. Investors appear to be reassessing their positions amid ongoing market volatility. These trends underscore the importance of monitoring fund flows as indicators of investor confidence in the crypto sector.
